TRENTON, N.J. – With revenues falling below expectations and spending holding steady, the state is in catch-up mode once again. Governor Murphy is scheduled to give his budget message on Tuesday, and his administration has been sanguine about New Jersey’s revenue shortfall. Assemblyman John DiMaio, the Republican budget officer, is not in denial – saying the prognosis is not good.
DiMaio gave a breakdown of the state budget’s problems ahead of Murphy’s address, explaining that the state is spending too much; and not on core government functions and fiscal priorities. He also noted that the state’s nation-worst business environment has hampered economic growth, which has averaged only a third of national economic growth since Democrats took full control of the legislature.